Question : From the following information, calculate the amount of stationary consumed by the Rotary Club for the year ended 31st March 2022:
| Particulars | 31-3-21 | 31-3-22 |
| Balance of Stationary | 48000 | 59000 |
| Creditors for stationary | 418000 |
390000 |
During the year creditors were paid Rs. 6,00,000.
Option 1: Rs. 5,61,000
Option 2: Rs. 5,72,000
Option 3: Rs. 5,50,000
Option 4: Rs. 5,30,000
Correct Answer: Rs. 5,61,000
Solution :
| Amount paid for Sports material purchased during 2021-22 | 600000 |
| Less: Creditors for Sports material on 1-4-2021 | 418000 |
| Add: Creditors for Sports material on 31-3-2022 | 390000 |
| Sports material purchased during the year | 572000 |
| Add: Stock of Sports material on 1-4-2021 | 48000 |
| Less: Stock of Sports material on 31-3-2022 | 59000 |
| Amount to be shown in Income and Expenditure Account | 561000 |
Hence, the correct option is 1.
Related Questions
Question : How much amount will be shown in the Income and Expenditure Account in the following case:
| Amount paid for stationary purchased during 2021-22 | 80000 |
| Creditors for Stationary on 1-4-2021 | 8000 |
| Creditors for Stationary on 31-3-2022 | 12400 |
| Stock of Stationary on 1-4-2021 | 10800 |
| Stock of Stationary on 31-3-2022 | 10000 |
Option 1: Rs. 84,400
Option 2: Rs. 84,000
Option 3: Rs. 86,000
Option 4: Rs. 85,200
Question : How much amount will be shown in the Income and Expenditure Account in the following case:
| Amount paid for stationary purchased during 2021-22 | 17000 |
| Creditors for Stationary on 1-4-2021 | 1500 |
| Creditors for Stationary on 31-3-2022 | 2100 |
| Stock of Stationary on 1-4-2021 | 1250 |
| Stock of Stationary on 31-3-2022 | 1400 |
Option 1: Rs. 17,450
Option 2: Rs. 17,600
Option 3: Rs. 17,000
Option 4: Rs. 18,000
Question : How much amount will be shown in the Income and Expenditure Account in the following case:
| Creditors for the stationary on 1-4-2021 | 8000 |
| Amount paid for stationary purchased during the year 2021-22 | 90000 |
| Creditors for the stationary on 31-3-2022 | 13000 |
Option 1: Rs. 1,03,000
Option 2: Rs. 95,000
Option 3: Rs. 98,000
Option 4: Rs. 85,000
Question : Calculate the amount to be debited to the Income and Expenditure Account for the year ending 31st March 2021:
| Amount paid for the Stationary during the year | 5000 |
| Stock of Stationary at the beginning of the year | 600 |
| Stock of Stationary at the end of the year | 750 |
Option 1: Rs. 4,850
Option 2: Rs. 5,600
Option 3: Rs. 5,750
Option 4: Rs. 6,350
Question : Delhi sports club for the year ending 31st march 2022 amounted to Rs. 4,00,000. How much amount to be recorded in Income and Expenditure Account after considering the following information:
| Particulars | 31-3-2021 | 31-3-2022 |
| Outstanding Salary | Rs. 14000 | Rs. 20000 |
| Advance Salary | Rs. 10000 | Rs. 8000 |
Option 1: Rs. 4,16,000
Option 2: Rs. 4,08,000
Option 3: Rs. 4,10,000
Option 4: Rs. 3,84,000
